View Our Homes http://www.view-our-homes.com a blog about Calgary and Area Real Estate en-ca (C) 1996-2017 Norm Rousseau & Sylvia Garrett MaxWell Realty 120 Sat, 05 Aug 2017 02:54:30 G8T Sat, 05 Aug 2017 02:54:30 G8T http://www.view-our-homes.com/Post/7a2825d1-4051-4cb9-b214-97aefcab1173 Sat, 05 Aug 2017 02:54:30 G8T http://www.view-our-homes.com/Post/7a2825d1-4051-4cb9-b214-97aefcab1173 <p><font size="4">Market sees modest inventory gains, but overall prices inch up.</font><p>City of Calgary, August 1, 2017 – Sales exhibited stable growth through the first half of the year in the Calgary housing market, but the number of transactions slowed slightly in July compared to last year.<a href="http://www.view-our-homes.com/File/capture.png"><img width="606" height="273" title="Capture" align="left" style="margin: 3px 24px 11px 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="Capture" src="http://www.view-our-homes.com/File/capturethumb.png" border="0"></a><p>City-wide sales totaled 1,637 units, six per cent below July 2016 levels. Year-to date sales activity totaled 11,957 units, nine per cent above last year.<p>“Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement,” said CREB® president David P. Brown.<br clear="all"></p> CREB Stats July 2017 Housing recovery remains a work-in-progress Norm Rousseau http://www.view-our-homes.com/Post/d3c49b5d-23f9-4fdc-8fa7-3801d2429201 Tue, 18 Jul 2017 02:31:24 G7T http://www.view-our-homes.com/Post/d3c49b5d-23f9-4fdc-8fa7-3801d2429201 <p>by REP17 Jul 2017<p>A new report reveals Canadian sentiment about home buying in Canada – including just how impactful the stress test might be.<p>In its latest report, entitled Consumers’ Perspectives on Home buying in Canada, Mortgage Professionals Canada aimed to simulate what percentage of prospective homebuyers would be impacted by the stress test policy that requires high ratio buyers to qualify at the posted rate of 4.64%.<a href="http://www.view-our-homes.com/File/mortgagerulesconcept2.jpg"><img width="368" height="245" title="mortgage_rules_concept" align="left" style="margin: 18px 23px 11px 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="mortgage_rules_concept" src="http://www.view-our-homes.com/File/mortgagerulesconceptthumb.jpg" border="0"></a><p>According to the simulation – which included buyers with less than 20% down payment who could afford a market interest rate of 2.6% -- 20% would fail the stress test and therefore would not qualify for mortgage financing.<p>Of those who would fail, 45% said they would increase their down payment amount; 45% said they would buy a less expensive home; 20% would look outside their original targeted region; 39% would delay their purchase; 5% would do something else; and 7% did not know what to do. Buyers work around mortgage stress test Norm Rousseau http://www.view-our-homes.com/Post/d9007db2-b819-44ef-92aa-21bc797065f0 Fri, 14 Jul 2017 10:58:45 G7T http://www.view-our-homes.com/Post/d9007db2-b819-44ef-92aa-21bc797065f0 <p>This was the biggest Stampede Breakfast I ever helped organize and a great volunteer group of cooks fed 2,350 stampede guests. This event took a total of over 100 volunteers to pull it off! Congratulations everyone.<p><a href="http://www.view-our-homes.com/File/img0003.jpg"><img width="534" height="400" title="IMG_0003" align="left" style="margin: 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="IMG_0003" src="http://www.view-our-homes.com/File/img0003thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/img0008.jpg"><img width="534" height="400" title="IMG_0008" align="left" style="margin: 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="IMG_0008" src="http://www.view-our-homes.com/File/img0008thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/img0011.jpg"><img width="534" height="400" title="IMG_0011" align="left" style="margin: 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="IMG_0011" src="http://www.view-our-homes.com/File/img0011thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/img0014.jpg"><img width="534" height="400" title="IMG_0014" align="left" style="border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="IMG_0014" src="http://www.view-our-homes.com/File/img0014thumb.jpg" border="0"><br></a> Southview Church Stampede Breakfast July 13, 2017 Norm Rousseau http://www.view-our-homes.com/Post/f43d7e73-089b-4ed0-adbd-fc9737a6cfde Sun, 09 Jul 2017 10:28:52 G7T http://www.view-our-homes.com/Post/f43d7e73-089b-4ed0-adbd-fc9737a6cfde <p>Gorgeous day! Our great volunteer group set up, cooked and fed over 800 stampede fans.</p><p><a href="http://www.view-our-homes.com/File/201707080927392.jpg"><img width="534" height="300" title="20170708_092739" align="left" style="margin: 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="20170708_092739" src="http://www.view-our-homes.com/File/20170708092739thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/201707080928192.jpg"><img width="534" height="300" title="20170708_092819" align="left" style="margin: 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="20170708_092819" src="http://www.view-our-homes.com/File/20170708092819thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/201707081052032.jpg"><img width="534" height="300" title="20170708_105203" align="left" style="margin: 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="20170708_105203" src="http://www.view-our-homes.com/File/20170708105203thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/201707081055232.jpg"><img width="361" height="641" title="20170708_105523" align="left" style="border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="20170708_105523" src="http://www.view-our-homes.com/File/20170708105523thumb.jpg" border="0"><br></a></p> MaxWell Stampede Breakfast 2017 Norm Rousseau http://www.view-our-homes.com/Post/e4a2ba0e-be0c-4c96-a120-72ae2bdf5a7e Fri, 07 Jul 2017 02:46:24 G7T http://www.view-our-homes.com/Post/e4a2ba0e-be0c-4c96-a120-72ae2bdf5a7e <p>Home News by Ephraim Vecina 07 July 2017<p>The looming possibility of an interest rate hike by the Bank of Canada—an eventuality spurred by recent hints from the central bank—should give both consumers and industry players cause to be alert of the likely outcomes of such a hike, according to a markets observer.<a href="http://www.view-our-homes.com/File/istockratespercentage2.jpg"><img width="278" height="187" title="172217328" align="left" style="margin: 5px 12px 0px 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="172217328" src="http://www.view-our-homes.com/File/istockratespercentagethumb.jpg" border="0"></a><p>Writing for RateHub.ca, finance analyst Jordan Lavin noted that while banks have traditionally moved their prime rates according to the BoC’s decisions to maintain or slash their rates (which is in turn motivated by the central bank’s mandate to keep a 2-per-cent inflation target), “[the] last two times the BoC rate has gone down, the banks haven’t passed on the full discount to customers. After each rate cut of 0.25 percentage points, the banks only lowered their prime rates by 0.15 percentage points.”<p>“It’s possible that when the BoC rate goes up, the banks will raise their prime rates by only 0.15 percentage points, but it’s much more likely that they’ll pass on the full 0.25 percent point increase to their customers.”<p>Home owners who are already working off their mortgages need to take into account the possible impact, especially when they have variable-rate mortgages (as fixed-rate products will be mostly unaffected).<p>“When the prime rate rises or falls, variable mortgage rates rise or fall with it. In fact, variable mortgage rates are usually expressed as prime plus or minus a certain percentage,” Lavin explained. “If the prime rate goes up, you’ll pay a greater amount of interest on the outstanding balance of your mortgage. In some cases, your monthly payment will increase to cover the additional amount.”<p>Lavin added that financially struggling consumers in this category can approach their brokers and suggest a switch to a fixed-rate mortgage, which will shield borrowers from further upward movements in the BoC rate.<p>Meanwhile, first-time home buyers can rest assured that the maximum amount they can borrow will not suffer from a rate hike. Possibilities for consumers in the event of a BoC rate hike Norm Rousseau http://www.view-our-homes.com/Post/c7ce01a3-8de1-48f6-b977-c76effdd826c Wed, 05 Jul 2017 09:57:48 G7T http://www.view-our-homes.com/Post/c7ce01a3-8de1-48f6-b977-c76effdd826c <p>Stable prices in detached sector signal balanced conditions despite increased inventory <p>City of Calgary, July 4, 2017 – Calgary’s housing market in June saw a modest improvement in sales along with an increase in new listings.<p>However, demand gains have not kept pace with the amount of new listings coming onto the market. This caused inventory levels to increase to 6,659 units, which is 11 per cent higher than last year’s levels. <a href="http://www.view-our-homes.com/File/capture.png"><img width="357" height="297" title="Capture" align="left" style="margin: 6px 29px 2px 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="Capture" src="http://www.view-our-homes.com/File/capturethumb.png" border="0"></a><p>Despite the recent shift in inventory this month, second quarter activity continues to demonstrate improved supply-demand balance and price stability. City wide benchmark prices totaled $441,500 in June. This is a 0.5 per cent gain over last month and nearly one per cent higher than last year. <p>“The supply gain this month will be monitored. However, on a quarterly basis, inventory levels remain comparable to last year, sales have improved and there have been modest price gains. All of this remains consistent with expectations of a gradual recovery,” said CREB® chief economist Ann-Marie Lurie.<p>Year-to-date residential sales in Calgary totaled 10,322 units, which is 12 per cent above last year’s levels. New listings increased by three per cent over the same time period. <p>Overall, both the sales-to-new listings ratio and months of supply have trended down this year. This signals more stable pricing in the housing market this year. <p>“While there were many buyers waiting for lower prices to step into the housing market, there were also many sellers waiting until prices stabilized before listing their home,” said CREB® president David P. Brown. <p>“Some of this recent growth in listings will help provide more choice, particularly in the detached market where market conditions had significantly tightened over the past few months.”<p>Detached inventories and sales totaled 3,224 and 1,385 units, for a month of supply of 2.3 in June. Despite the recent rise in supply, over the first half of this year inventories have averaged 16 per cent below last year’s levels while sales are 13 per cent higher, keeping this segment in more balanced conditions.<p>While activity is also improving in the attached segment of the market, resale activity in the ownership of apartment-style product continues to face challenges with weak sales relative to listings and rising months of supply. <p>As of June, the unadjusted benchmark price for an apartment style product totaled $265,800. This is nearly four per cent below last year’s levels and 11 per cent below recent highs. CREB June 2017 spells a gradual recovery Norm Rousseau http://www.view-our-homes.com/Post/9cfee119-14a9-414a-ae5e-c3c189649aa3 Mon, 26 Jun 2017 04:09:58 G6T http://www.view-our-homes.com/Post/9cfee119-14a9-414a-ae5e-c3c189649aa3 <p>by REP (Real Estate Professional) | Jun 19, 2017 <a href="http://www.view-our-homes.com/File/percentage-dice2.jpg"><img width="128" height="95" title="Percentage Dice" align="left" style="margin: 0px 14px 5px 0px; border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="Percentage Dice" src="http://www.view-our-homes.com/File/percentage-dicethumb.jpg" border="0"></a><p>Interest rates are expected to increase sooner than originally expected. <p>“With economic growth coming in strong this year, inflation should turn the corner,” TD Bank said in its Quarterly Economic Forecast. “The Bank of Canada will look for confirmation, but is now expected to begin increasing its policy interest rate in October of this year, two quarters earlier than previously anticipated.” <p>Variable mortgage rates are largely dependent on the Bank of Canada’s benchmark rate; when it increases, expect variable rates to as well. <p>Canada saw strong first-quarter momentum with economic growth of 2.8%. That signifies a 0.5% upgrade from the previous forecast. <p>A more moderate 1.9% growth is expected in 2018. <p>Most recently, the Bank of Canada held its benchmark rate at 0.5%. <p>“The Canadian economy’s adjustment to lower oil prices is largely complete and recent economic data have been encouraging, including indicators of business investment. Consumer spending and the housing sector continue to be robust on the back of an improving labour market, and these are becoming more broadly based across regions,” the BoC said at the time. “Macroprudential and other policy measures, while contributing to more sustainable debt profiles, have yet to have a substantial cooling effect on housing markets. <p>“Meanwhile, export growth remains subdued, as anticipated in the April MPR, in the face of ongoing competitiveness challenges,” it continued. “The Bank’s monitoring of the economic data suggests that very strong growth in the first quarter will be followed by some moderation in the second quarter.” The future of mortgage rates Norm Rousseau http://www.view-our-homes.com/Post/489102ca-1698-408c-b12c-7ea16035c56c Thu, 22 Jun 2017 03:15:35 G6T http://www.view-our-homes.com/Post/489102ca-1698-408c-b12c-7ea16035c56c <p>This property is SOLD</p><p>Excellent opportunity to own your own home! This well maintained 2 bedroom mobile home has all new windows (Aug 2015) plus a new back door. Bright and open living room and eat in kitchen complete with an eating bar and extra kitchen cupboards. Two parking spaces and two storage sheds are included. Conveniently located close to all amenities. Sale Includes washer and dryer. Pad fee $575 a month includes water, sewer and garbage. Come and view your new home today!</p><p><a href="http://www.view-our-homes.com/File/wp20170616120945pro-24.jpg"><img width="534" height="400" title="WP_20170616_12_09_45_Pro (2)" align="left" style="border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="WP_20170616_12_09_45_Pro (2)" src="http://www.view-our-homes.com/File/wp20170616120945pro-2thumb1.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/img15071.jpg"><img width="534" height="400" title="IMG_1507" align="left" style="border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="IMG_1507" src="http://www.view-our-homes.com/File/img1507thumb1.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/img1496.jpg"><img width="534" height="400" title="IMG_1496" align="left" style="border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="IMG_1496" src="http://www.view-our-homes.com/File/img1496thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/img1491.jpg"><img width="534" height="400" title="IMG_1491" align="left" style="border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="IMG_1491" src="http://www.view-our-homes.com/File/img1491thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/img1505.jpg"><img width="534" height="400" title="IMG_1505" align="left" style="border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="IMG_1505" src="http://www.view-our-homes.com/File/img1505thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/img1636.jpg"><img width="534" height="400" title="IMG_1636" align="left" style="border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="IMG_1636" src="http://www.view-our-homes.com/File/img1636thumb.jpg" border="0"></a><a href="http://www.view-our-homes.com/File/getmediayy3cvbr04.jpg"><img width="534" height="400" title="GetMediaYY3CVBR0" align="left" style="border: 0px currentcolor; border-image: none; float: left; display: inline; background-image: none;" alt="GetMediaYY3CVBR0" src="http://www.view-our-homes.com/File/getmediayy3cvbr0thumb1.jpg" border="0"><br></a></p> Mobile home in Airdrie Main St. Norm Rousseau http://www.view-our-homes.com/Post/127a4039-4826-4fa8-a7c7-47640f560dbd Wed, 14 Jun 2017 04:15:26 G6T http://www.view-our-homes.com/Post/127a4039-4826-4fa8-a7c7-47640f560dbd <p>Home News by Ephraim Vecina 14 Jun 2017<p>HomEquity Bank’s release of its updated figures pointed at record-breaking performance over the first five months of 2017, mainly powered by the increasing number of seniors taking on reverse mortgages.<p>The lone provider of the CHIP Reverse Mortgage product saw a new high of $60M in its reverse mortgage originations last month, representing a year-to-date increase of 35 per cent compared with the same period a year ago.<p>“Canadian seniors are releasing the equity they’ve built in their homes, transforming it from passive to active,” HomEquity Bank president and CEO Steven Ranson said.<p>“We’ve seen a shift in mindset: there’s a broader understanding that home equity – which is often the largest single asset for Canadians – can be easily unlocked,” Ranson noted, adding that this was a natural consequence of seniors (who are now living longer and more active lives) being able to take advantage of the steady appreciation of Canadian residential real estate.<p>“Historically, the average age of our clients is 72,” the bank exec explained. “Working together with financial planners and mortgage brokers, we’re finding that people incorporate equity release into their financial outlook at an earlier age.”<p>More and more Canadians aged over 55 are also contributing to the housing or educational dreams of their children (and even grandchildren) as the “bank of mum and dad,” Ranson added.</p> Proportion of seniors in reverse mortgage market trending upward Norm Rousseau http://www.view-our-homes.com/Post/c0939b22-3da7-4a5f-921a-839c0caedf18 Sat, 03 Jun 2017 07:47:27 G6T http://www.view-our-homes.com/Post/c0939b22-3da7-4a5f-921a-839c0caedf18 <p> Apartment-style inventory levels totaled 1,780 in May, 11 per cent higher than last year’s levels and accounting for nearly 30 per cent of city wide inventory. Inventory gains were mostly under $300,000 and occurred across all districts except the North West. Apartment benchmark prices totaled $271,200 in May, 2.9 per cent below, and over 11 per cent below 2014 monthly highs. Apartment price adjustments have varied across the city, with the largest peak to trough declines occurring in the South East, South and City Centre district. This is likely related to the amount of new condominium construction in these areas.  Detached sales improved across all price ranges representing 65 per cent of all Calgary sales in May, the highest level since 2012. The largest detached sales growth occurred in the $600,000 - $999,999 range. The North West sector recorded the tightest market conditions in the detached sector. Months of supply have averaged below two months in the detached sector, which accounts for over 70 per cent of sales in the area. Tighter conditions have supported modest price growth so far this year. The west area has seen the most significant turnaround in detached prices this year. Year to-date benchmark prices are $713,580. This is a 2.7 per cent increase over last year and just below highs recorded in 2015.</p> CREB HOUSING MARKET FACTS Norm Rousseau